16 condition rating 3's on homebuyers report and loads of 2's

ruggedtoast

I think it's time for a rightmove link?

I_have_spoken

Walk away. Mortgage rates will be kept low until the May election.

A rickety leaking roof, going into winter with a baby on the way doesn't sound clever IMHO. If you were completing in the Spring, you could box the house with a scaffolding & tarpaulin 'tent' to renew the roof in good weather.

Once the fabric of a house is affected by water damage, then you could be faced with a money pit.

ri17

Starting to think that may be our best option.

Can anyone answer say the vendor dropped the price 10k would we still get the same mortgage money that's been aproved for the other amount? So in theory we would have 10k cash to get the works done?

caronoel

ri17 wrote: »

Can anyone answer say the vendor dropped the price 10k would we still get the same mortgage money that's been aproved for the other amount? So in theory we would have 10k cash to get the works done?

Thats a question for your mortgage company.

So long at the LTV doesnt fall below a particular threshold, there shouldnt be a problem but speak to the lender on Monday morning rather than relying on anonymous comments from an internet forum

ri17

Will be speaking to the ea first as suspect the vendor wont budge and we'll walk so no point in involving the mortgage lender unless we are getting somewhere, it was just thinking aloud if anyone has experienced it and that had happened as I suspect we wont even get that far

caronoel

ri17 wrote: »

Will be speaking to the ea first as suspect the vendor wont budge and we'll walk so no point in involving the mortgage lender unless we are getting somewhere, it was just thinking aloud if anyone has experienced it and that had happened as I suspect we wont even get that far

It's well worth having the conversation with the EA, in the first instance.

Be firm in your comments to them that the £10k requested price reduction is a "walk away" moment for you - which it sounds like it is.

You may find the vendor is more receptive to a price reduction than you expect. It will be difficult for them to find another proceedable vendor between now and Christmas.

Let us know how you get on

ri17

Thank you

My uncle who is a bit of a builder but not in the professional sense is going through it with us tomorrow to pick out the serious from the cheap. That will hopefully give us a figure to move forwards with although we'll get proper quotes if they're up for negotiating price. I am doubtful after the ea's comment of 'there will be no further reductions after the survey' when our offer was accepted!

[Deleted User]

Didn't you get any advice on your last post?

http://forums.moneysavingexpert.com/showthread.php?p=66879346&highlight=#post66879346